Walmart's gross margin, which has fallen for four consecutive quarters, was down 23 basis points in the quarter ended April 30.
27 analysts on average are expecting Wal-Mart Stores Inc.to report earnings of $1.22 per share for the current quarter.
Following the release, the company's stock was up more than 2% in pre-market trading to $87.85.
According to Finviz reported data, The SMA20 of the stock is at -0.01 percent, SMA50 is -0.82 percent, while SMA200 is -3.99 percent. E-commerce sales grew 1% year over year. The company has been making pushes to improve its ecommerce offerings in a bid to better compete against rival online retailer Amazon.com, Inc. The net sales of Walmart from its global business grew 11.7% to $30.3 Bn in Q1. "We're pleased that USA e-commerce delivered sales growth of 33% with strength at Walmart.com and online grocery".
The e-commerce rebound comes after a sharp slowdown during the crucial holiday quarter, which sent its shares down over 10 percent and wiped out $31 billion from its market capitalization. "We also have new brands in e-commerce including the partnership with Lord & Taylor, so there are a lot of different things driving growth there". Free for 14 days - no credit card required!
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The company's chief of e-commerce, Marc Lore, told reporters the chain was on track to meet its expectations for 40 per cent growth in online sales this year. Online sales also grew 33 percent in the quarter which marks a reversal from the prior quarter's disappointing performance in the prior quarter.
It also recently sold control of United Kingdom chain Asda to J Sainsbury PLC, and, according to people familiar with the matter, it is in talks to sell a majority stake in its Brazilian operations. The retailing giant posted adjusted diluted earnings per share (EPS) of $1.14 on net sales of $121.63 billion, excluding membership fees in Sam's Club. The retailer reported $1.14 EPS for the quarter, beating the Zacks' consensus estimate of $1.12 by $0.02. The warehouse club segment reported a 5.2% overall comp gain, led by 5.6% traffic growth and a 25% e-commerce sales increase. "It stimulates pride and people - they are buying more and Walmart is laying waste to the rest of USA retail". While the rising gas prices may have reduced the purchasing power of some, Walmart indicated that it was still enjoying robust consumer demand.
"We delivered a solid first quarter, and we're encouraged by the continued momentum across the business", President and CEO Doug McMillon said in a statement. "Walmart's going to start winning even more online", Flickinger added.
But Walmart faces stiff competition in the grocery aisle not only from Amazon but also from a newly emboldened Kroger. "We see digital sales growth continuing to accelerate on a significant expansion in grocery pick-up services", he wrote. Still, Walmart generates most of its profits and sales in the U.S., and its heavy spending to lower prices and expand its online business have investors concerned about the price it's paying to keep up with Amazon.com Inc.